THE DAILY BRIEFING

■ SLOWING UP The US economy slowed slightly more than initially thought in the first quarter of the year. Gross domestic product increased at a 2.2pc annual rate, the Commerce Department, instead of the previously reported 2.3pc pace. The economy grew at a 2.9pc rate in the fourth quarter of last year.

■ SENTENCE PLEA The former head of China’s sprawling Anbang

Insurance Group Wu Xiaohui is appealing against his sentence of 18 years in prison for fraud.

The Shanghai No 1 intermediate people’s court said Wu pleaded guilty to fraudulently raising billions of dollars from investors.

■ HEADING OFF Broker dealer TP ICAP said chairman Rupert Robson will retire at the end of 2018.

■ PIRATE ULTIMATUM Internet retail giants Amazon and Ebay have been ordered by US regulators to remove fake pay-TV boxes from sale on their websites. The Federal Communications Commission said the devices were being used to stream pirated content.

■ RISK ROLE Budget airline Ryanair has promoted its director of safety and security Carol Sharkey to chief risk officer.

■ SALES RISE Sales at the John

Lewis Partnership increased 1.4pc last week as customers started shopping early for Father’s Day presents, and spent money on spring cleaning products.

■ LILY HIRED Components parts maker Essentra has hired Lily Liu as chief finance officer, to replace Stefan Schellinger. She was finance chief at the inkjet firm Xaar.

■ UNION DEAL Financial adviser

Lighthouse Group has signed a deal to provide support for the 200,000 members of PCS Union, which represents staff across the civil service. Shares in AIM-listed Lighthouse rose 0.8pc, or 0.2p, to 25.2p.

■ GOLD TARGET Silver and gold miner Fresnillo said it remains on track to produce up to 70m ounces of silver and 900,000 ounces of gold.

■ CONTRACT SIGNED AIM-listed radiation technology firm Kromek will continue providing detector modules to one of its key customers in a five-year contract renewal which is worth £904,152.

■ NEW CHIEF Potash development firm Kore Potash has appointed Stuart Bradley Sampson, 52, as chief executive and director.